Article 53. Reorganization and liquidation of a legal entity that is a business entity of the Entrepreneurial Code of the Republic of Kazakhstan
1. The reorganization or liquidation of a legal entity that is a business entity is carried out in accordance with the Civil Code of the Republic of Kazakhstan, taking into account the specifics established by this Code and the laws of the Republic of Kazakhstan.
2. A business entity is declared bankrupt by a court decision on the basis of a debtor's or creditor's application to the court, and in cases provided for by the laws of the Republic of Kazakhstan, and other persons.
3. The procedure for rehabilitation and bankruptcy of a legal entity is carried out in accordance with the procedure established by the legislation of the Republic of Kazakhstan on rehabilitation and bankruptcy.
President
Republic of Kazakhstan
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